The Bank of Israel intervened in the foreign currency market, after the shekel-dollar exchange rate fell to NIS 3.575/$.
The Bank of Israel has again intervened in the foreign currency market, buying tens of millions of dollars, after the shekel-dollar exchange rate fell to NIS 3.575/$ in inter-bank trading. Following the intervention, the shekel weakened slight to NIS 3.595/$, still 0.05% below yesterday's representative rate.
The shekel also strengthened 0.09% against the euro to NIS 4.626/€.
The Bank of Israel previously intervened in the market on April 8, buying $120 million when the shekel-dollar exchange rate fell below NIS 3.60/$. This was its first intervention in the market since July 2011.
"Fischer should go from words to deeds. The Bank of Israel's intervention should boost the shekel-dollar exchange rate to a range of up to NIS 3.80/$," said Agio Risk Management and Financial Decisions CEO Dr. Gideon Ben-Nun today, in response to the central bank's intervention.
Published by Globes [online], Israel business news - www.globes-online.com - on April 30, 2013
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